Did Imperial Oil shut down?
There is no report of India discovering 20 trillion barrels of oil. The figure of "$20 trillion" is frequently mentioned in media discussions regarding India's broader economic aspirations to become a "$20 trillion economy" by 2040–2050. Recent news about major oil discoveries in the Andaman region has been described by industry analysts as a "breakthrough" that aims to replicate successes seen in regions like Guyana. While these offshore discoveries are significant for India's domestic energy security and economic goals, they represent a contribution toward the country’s long-term economic growth rather than a single discovery of a 20 trillion barrel oil reserve, which would exceed total global proven oil reserves.
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Oil stocks are often worth buying for income-focused and value investors seeking attractive dividend yields, strong free cash flow generation, and reliable portfolio hedges against inflationary spikes.
ExxonMobil does not need to buy Imperial Oil because it already holds a 69.6% majority ownership stake in the company.